Daft Property - Irish Property News

House prices drop 1.8% in October... Dublin: House prices fell the most in six months in October, extending a real-estate slump that has pushed prices to their lowest in six years. Prices dropped 1.8% from the previous month, the most since April, Dublin-based Irish Life & Permanent Plc said in a monthly report today. From a year earlier, prices dropped 13.9%. House prices have fallen in every month since March 2007 and are now 27% below their peak in the early part of that year, according to the Irish Life/ESRI index. The average price of a house in Ireland was €228,347, the lowest since October 2003. Report - Irish Examiner.

Average house prices are now back at January 2004 levels - report... AVERAGE HOUSE prices in Ireland are now back at the level seen in January 2004, according to the latest ESRI/Permanent TSB house price index. Prices fell by 1.5 per cent in August, according to the data released yesterday, bringing the decline in the past year to 13 per cent. According to the survey, house prices have now been falling for two full years and are 24.4 per cent lower than at their peak in February 2007. Niall O’Grady, general manager of business strategy at Permanent TSB, said the rate of decline had been more dramatic during the summer due to the low levels of activity in the market and a lack of confidence in any recovery this year. “Recently, prices have started to fall faster in the Dublin region due to the high level of surplus stock available,” he said. House prices in Dublin have fallen by 18 per cent over the past year, compared with a 12 per cent decline for property outside the capital, the sur...

Latest figures confirm the "softening" in house prices and according to a report from the Irish Independent... " HOUSE prices fell by 9pc in the past year, wiping €27,500 off the value of the average home. National house prices fell by 0.7pc in March, according to yesterday's Permanent TSB/ERSI house price index. But the price decline for first-time buyer houses was greater, at 10pc, as potential buyers have been squeezed hard by banks hiking up interest rates for new customers. A 10pc drop in First-Time Buyer (FTB) house prices will see some 40,000 new buyers go into negative equity by the end of the year, according to Davy Stockbrokers. Negative equity is when the value of the mortgage is greater than the value of the home. Economists also warned that prices will have to fall further if first time buyers are to be enticed back into the market. New buyers have also been hit by the withdrawal of 100pc mortgages, and the need to find deposits of up to 10pc. Over a th...